After a 33% gain in the first half, this fund manager grew tired of the AI trade. Here’s where he’s looking now.

Reported by MarketWatch · Published 8 Oct 2026, 6:55 PM MYT (1 d ago)

Image: MarketWatch

Bill Hench, of First Eagle, stepped away from the artificial-intelligence trade with small-capitalization bets on a recovery of the U.S. housing construction market.

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After a 33% gain in the first half, this fund manager grew tired of the AI trade. Here’s where he’s looking now.

Summary

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